A group of a national trade association which represent themselves as local virtual asset service providers (VASP) in many countries, decided to establish an association of global cryptocurrency, to provide a global firm to represent all the sub firms. There were many members of the association who took part in the worldwide summit and issued a press release.

According to the press release, the Japanese virtual trade association signed a memorandum of understanding in Osaka to establish the association. The sub-associations which have signed the MOU are Australian Digital Commerce Association (ADCA), Singapore Cryptocurrency and Blockchain Industry Association, Japan Blockchain Association, Korean Blockchain Association, Hong Kong Blockchain Association, and the ​Taiwan Parliamentary Coalition for Blockchain & Industry Self-Regulatory Organization. People can check the prices of the top twenty cryptocurrencies involved in the association summit on Cryptocurrency portfolio tracker.

All the members have signed the MOU at the inaugural V20 VASP summit. The summit was held parallel with G20 meeting in Osaka where VASP representatives collaborated with regulators. V20 convenor Ronald M. Tucker said that they had brought everyone in a single body to support the cryptocurrencies and to provide in-depth service to the investors through making of the association.

According to crypto portfolio tracker, this MOU will help to make connection among governments and regulators, support information exchange, promote policy and procedures, increase awareness of the industry, and facilitate compliance. As the cryptocurrency market is booming, many investors are trading on it. Hence, there is a prediction of three-time increment in the global cryptocurrency market in the upcoming year.

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